DD vs quarterly

mattcanary

Er, the whole point of DDs is that the supplier manages the amount that is paid, not the customer!


The customer can suggest what the Direct Debit should be to the supplier. The supplier doesn't have to agree to set it at the level the customer feels it should be set at. The only thing the customer can do is cancel the Direct Debit scheme if they are not happy with the payment levels the supplier has set.

Suppliers wouldn't promote Direct debit schemes so eagerly if there wasn't something in it for them (ie: a good cashflow - quite possibly helped by setting many customer's Direct Debit too high). Okay, some will be set at too low an amount- I would bet my last fiver though that more customers pay too much.

macman

But ultimately the DD is authorised (or not) by the account holder. They are in control, although they don't determine the amount.
If the OP is £300 in credit, then a simple phone call to the supplier to go through the consumption and calculations should result in it being reduced to a sensible level. A £300 credit doesn't just appear overnight-it's presumably the result of infrequent meter readings and a failure to check estimated bills.

yoda011087

Tea_Pea_Dee wrote: »

Collectively?? A huge amount

EDF Energy is one of the UK’s largest energy companies and its largest producer of low-carbon electricity. A wholly-owned subsidiary of the EDF Group, one of Europe's largest energy groups, we generate around one fifth of the UK's electricity and employ around 15,000 people. We supply electricity and gas to around 5.5 million residential and business customers, making us the biggest supplier of electricity by volume.

Remeber - energy companies don't charge interest on debit balances owing to them - and are forced to offer installment plans for people who rack up debt... Swings and roundabouts.

Also, I personally prefer them to have it so I can't spend the money myself!

Just a thought...

Stompa

Switch to a supplier like OVO who pay you interest (currently 3%) when your account is in credit.